Dollar to Naira Bank Rate Today | CBN Exchange Rate September 5, 2023

The Central Bank of Nigeria (CBN) publishes the exchange rate of the Nigerian naira to the US dollar daily. This information is very important for businesses and individuals who need to convert between the two currencies.

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This means that if you want to buy 1 US dollar at the Central Bank of Nigeria (CBN) or the Importer and Exporter (I & E) Foreign Exchange Windows, you will need to pay N758.77. Conversely, if you wish to sell your dollar at the I & E window, 1 US dollar will yield you N757.77.

What happened to Nigerian naira to US dollar

The exchange rate can fluctuate from day to day, so it is important to check the CBN website for the latest rates before making any transactions.

Ardova Plc Announces CEO Resignation and New Managing Director Appointment

Meanwhile,   Development for Ardova Plc, the Chief Executive Officer (CEO), Olu Adeosun, has tendered his resignation, marking the end of an era for the oil and gas firm. Moshood Olajide has been appointed as the new Managing Director, signaling a transition in leadership.

Dollar to Naira Bank Rate Today,CBN Exchange Rate

Resignation Effective on August 31, 2023

Adeosun’s resignation officially took effect on August 31, 2023, as announced by the company in a statement released on Friday. However, he will continue to fulfill other official duties within the organization until December 31, 2023, ensuring a smooth transition of leadership.

Adeosun’s Comments on Departure

Commenting on his departure from Ardova, Adeosun expressed his gratitude and reflected on his time at the company. He stated, “After over four years of building a market offering leveraging the strength and customer loyalty of the AP brand across multiple channels and partnerships, I believe this is the right point to hand over leadership.”

He went on to thank the Ardova Board, management, team, customers, and partners for their unwavering support. Adeosun also expressed his commitment to facilitating a seamless transition and affirmed his continued support for Ardova, its products, and services. He emphasized his intention to remain a loyal customer, stakeholder, and lifelong fan of the company.

Appointment of Moshood Olajide as Managing Director

With Adeosun’s departure, the board of Ardova Plc has appointed Moshood Olajide as the new Managing Director. Olajide’s appointment marks a new chapter in the company’s leadership.

The transition in leadership at Ardova comes at a critical juncture for the oil and gas industry, and stakeholders will be closely watching the direction that Olajide takes the company in the coming months. As the organization navigates this change, the focus will undoubtedly be on sustaining and enhancing Ardova’s position in the market and continuing to meet the needs of its customers and partners.

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Here are some of the factors that can affect the CBN exchange rate between the Nigerian naira and the US dollar:

• Demand and supply: If there is more demand for the US dollar than there is supply, the exchange rate will go up. Conversely, if there is more supply of the US dollar than there is demand, the exchange rate will go down.
• Economic factors: The state of the Nigerian economy and the US economy can also affect the exchange rate. For example, if the Nigerian economy is doing well, the naira will be more valuable. Conversely, if the Nigerian economy is doing poorly, the naira will be less valuable.
• Political factors: Political instability in Nigeria or the US can also affect the exchange rate. For example, if there is a coup in Nigeria, the naira will likely lose value.

If you are planning to travel to Nigeria or the US, it is important to factor in the exchange rate when budgeting for your trip. You can use a currency converter to get an estimate of how much your money will be worth in the other currency.

You can also check the CBN website for the latest exchange rates. The website also has a currency converter that you can use.